Molten Metal Secures Financing;
Loan Secured With Lien on Assets

a Wall Street Journal Staff Reporter

Updated Dec. 23, 1997 12:01 am ET

WALTHAM, Mass. -- Molten Metal Technology Inc. said it secured $7 million in short-term, debtor-in-possession financing. Molten Metal filed for reorganization under Chapter 11 of the Bankruptcy Code on Dec. 3, and has been seeking a variety of financing alternatives.

The environmental technology company said the loan, due Jan. 30, is secured with a lien on substantially all of its assets. The lender also expressed an interest in providing a $20 million medium-term loan, though it made no commitment to provide one, Molten Metal...